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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q2 FY19

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q4 FY19	Q3 FY19	Q2 FY19
Revenue from operations	516	616	539	498	468	561	1,361	1,825	3,141	2,419	1,774	1,866	3,239	1,484	1,850	1,549	1,621	1,657	1,387	1,214	1,415	1,422	1,061	807	1,465	1,474	1,174	1,231	1,524	1,237
Other income	4.1	0.4	14	3	10.2	3.3	82.1	234	151	161	157	187	193	22.6	50.2	2.7	10.9	17.5	5.1	16.4	18.7	3.9	12.4	8.8	−0.7	16.8	18.3	5.2	14	−36.7
Total expenses	596	671	613	580	550	630	1,536	2,243	3,509	2,792	2,063	2,207	3,432	1,542	1,939	1,592	1,409	1,338	1,189	1,081	1,197	1,168	977	872	1,333	1,304	1,205	1,311	1,527	1,227
EBITDA	7.5	30.4	9.6	−0.5	4.2	19	−21.5	−179	−148	−190	−172	−218	−84.4	57.2	1.7	32.2	266	373	252	188	278	325	166	27.4	225	268	77.2	11.3	88.1	92.1
EBITDA margin	1.5%	4.9%	1.8%	-0.1%	0.9%	3.4%	-1.6%	-9.8%	-4.7%	-7.8%	-9.7%	-11.7%	-2.6%	3.9%	0.1%	2.1%	16.4%	22.5%	18.2%	15.5%	19.7%	22.8%	15.6%	3.4%	15.4%	18.2%	6.6%	0.9%	5.8%	7.4%
Finance costs	56.7	53.8	50.4	48.3	52.3	54.7	102	170	150	114	73.9	66.2	68.3	78.8	56.2	45.6	25.8	23.4	23.5	24	27.2	33	43.9	53.1	54.4	56.8	61.8	54.5	56.2	47
Depreciation	31.1	31.7	33.2	33.6	34.1	33.1	51.9	68.6	69.7	69.4	43.2	56.8	40.7	36.2	34.1	29.7	28.3	30	30.6	30.7	33	37.2	37.7	38.9	39.6	42.2	46.7	36.6	34.8	35.5
Profit before tax	−76.1	−66.8	−80.5	−79.4	78.5	−75.6	−1,519	−184	−217	−212	−132	−155	−0.6	−35.3	−38.4	−40.4	223	337	203	150	237	258	96.4	−55.8	130	186	−13	−74.6	11.2	−27
Tax	0	0	0	0	0	0	−0.1	4.5	3.5	10.1	6	−6.5	−1.7	12.4	−13.5	0.8	29	46.9	3.2	22.5	22.2	−80.8	21.1	2.7	35.5	36.7	10.2	−15.9	−73	24.5
Net profit	−38.4	−29.6	−5.3	41.3	149	−29.1	−1,400	−152	−198	−207	−108	−111	29.2	−35.2	8.8	−28.8	210	307	199	122	206	333	68	−60.6	60.2	148	−24.7	−75.6	77.2	−67.9
Net margin	-7.4%	-4.8%	-1.0%	8.3%	31.8%	-5.2%	-102.9%	-8.3%	-6.3%	-8.6%	-6.1%	-6.0%	0.9%	-2.4%	0.5%	-1.9%	12.9%	18.5%	14.4%	10.0%	14.5%	23.4%	6.4%	-7.5%	4.1%	10.1%	-2.1%	-6.1%	5.1%	-5.5%
EPS (₹)	-0.25	-0.20	-0.04	0.27	0.97	-0.20	-9.38	-0.63	-0.99	-0.93	-0.56	-0.59	-0.37	-0.36	-0.07	-0.35	0.60	0.94	0.38	0.09	0.38	0.63	-0.09	-0.60	-0.40	0.05	-0.57	-0.88	-0.01	-0.96
Net profit YoY	−125.8%	−1.8%	+99.6%	+127.1%	+175.3%	+85.9%	−1197.8%	−37.0%	−777.4%	−488.0%	−1323.0%	−285.5%	–	−116.8%	−97.1%	−114.5%	+2.0%	−7.9%	+193.0%	+300.5%	+241.9%	+124.8%	+375.6%	–	+179.6%	+92.2%	+63.6%	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	2,121	6,888	9,297	6,223	5,880	4,705	5,357	5,116
Other income	27.6	471	697	98	49.9	43.8	35	−47.7
Total expenses	2,414	7,918	10,494	6,422	5,017	4,213	5,151	5,245
EBITDA	43.7	−330	−664	137	1,079	796	617	212
EBITDA margin	2.1%	-4.8%	-7.1%	2.2%	18.4%	16.9%	11.5%	4.1%
Finance costs	205	477	322	209	96.6	157	236	198
Depreciation	133	223	210	128	120	147	175	142
Profit before tax	−148	−1,996	−500	−101	913	536	191	−176
Tax	0	5.6	7.8	−0.2	102	−34.8	87.1	−53.1
Net profit	155	−1,777	−397	−15.8	838	547	56.1	−178
Net margin	7.3%	-25.8%	-4.3%	-0.3%	14.2%	11.6%	1.0%	-3.5%
EPS (₹)	0.99	-11.02	-2.45	-0.81	2.00	0.31	-2.29	-2.93
Net profit YoY	+108.7%	−347.8%	−2419.3%	−101.9%	+53.3%	+873.6%	+131.6%	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	−28.1	−1,912	−6,465	−2,804	641
Investing cash flow	−19.9	1,313	−5,169	−722	−250
Financing cash flow	83.8	−4,229	16,235	3,411	−381
Capital expenditure	51.4	899	2,404	732	184
Free cash flow (CFO − capex)	−79.5	−2,811	−8,869	−3,536	457

Net profit trend

annual, ₹ crore

FY21

₹547

FY22

₹838+53%

FY23

₹−15.8−102%

FY24

₹−397−2419%

FY25

₹−1,777−348%

FY26

₹155+109%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	15 Jul 2026	PDF on NSE XBRL
Q1 FY27	Standalone	15 Jul 2026	PDF on NSE XBRL
Q4 FY26	Consolidated	18 Apr 2026	PDF on NSE XBRL
Q4 FY26	Standalone	18 Apr 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	14 Jan 2026	PDF on NSE XBRL
Q3 FY26	Standalone	14 Jan 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	15 Oct 2025	PDF on NSE XBRL
Q2 FY26	Standalone	15 Oct 2025	PDF on NSE XBRL
Q1 FY26	Consolidated	15 Jul 2025	PDF on NSE XBRL
Q1 FY26	Standalone	15 Jul 2025	PDF on NSE XBRL

Annual reports

NSE archive

FY2623.78 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 27.1×-127.9×

P/B5Y avg 4.18×0.83×

ROEFY26, on average equity3.2%

Net margin7.3%

Debt / equity0.63×

Revenue CAGR (3Y)-30.1%

Profit CAGR (3Y)–

EPS (TTM)₹-0.21

Market cap₹4,094 Cr

Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.

P/B vs history

0.83×

vs 8-point avg 4.18× (−80%)

0.77× low4.18× avg13.71× high

History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹8,996 Cr+6%

Net worth₹4,918 Cr+4%

Total borrowings₹3,113 Cr+12%

Cash & bank balances₹39 Cr+1316%

Investments₹6,123 Cr+8%

Inventories₹2 Cr−76%

Trade receivables₹690 Cr+5%

Trade payables₹345 Cr−22%

Change vs the same date a year earlier.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Oct 24	Sept 24	Jun 24	Mar 24	Dec 23
Promoter	56.89	56.89	56.89	56.89	56.89	56.89	56.89	56.89	75.00	75.00	75.00	75.00
FII	4.33	6.29	6.26	6.54	6.85	6.98	6.61	5.84	2.34	3.50	3.53	3.48
DII	0.12	0.13	0.15	0.15	0.22	0.19	0.18	0.16	0.10	0.06	0.05	0.53
of which MF	0.12	0.13	0.15	0.15	0.19	–	–	–	–	–	–	–
Retail	25.20	23.71	23.94	23.91	23.68	23.49	23.87	24.44	11.00	9.89	9.40	9.39
Other public	13.46	12.98	12.76	12.51	12.36	12.45	12.45	12.67	11.56	11.55	12.02	11.60

5,25,106 shareholders · NSE shareholding pattern filings.